How did fake Aabar receive millions from 1MDB loan?

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Fake Aabar Received Millions from 1MDB Loan Through Complex Transaction Cycles

A subsidiary of 1Malaysia Development Berhad (1MDB) borrowed US$975 million from Deutsche Bank in 2014. A significant portion of this loan, specifically US$681,317,607, was then channelled to an entity incorporated in Seychelles named Aabar Investments PJS Limited. This entity is identified as a fabricated company, distinct from the legitimate Abu Dhabi firm of the same name.
Funds Transferred to Fake Aabar in Two Tranches

The US$681 million from the Deutsche Bank loan was disbursed to the fake Aabar entity in two separate transfers. The initial transfer occurred on September 2, 2014, amounting to US$223.3 million. This was followed by a larger transfer of US$457.9 million on September 3, 2014, within a day of the first disbursement.
Multi-Cycle Transactions Redistributed Funds

Following its receipt by the fake Aabar in Seychelles, the US$681 million underwent a series of complex transactions involving seven distinct cycles. During these cycles, the funds were moved through various entities including Lambasa Global Opportunity Fund, Universal Ventures Fund SCC, and Bridge Global Absolute Return Fund SPC. The money was also routed through Brazen Sky Limited, another 1MDB subsidiary, before a substantial portion was ultimately returned to the same fake Aabar entity in Seychelles.
Limited Funds Remained with 1MDB Subsidiaries

As a result of these intricate transactions, only a fraction of the initial US$681 million remained with 1MDB's direct subsidiaries. Specifically, US$94.42 million was retained by 1MDB Global Investments Limited. Additionally, US$48.5 million stayed with Brazen Sky Limited, with the bulk of the funds having been cycled back to the fake Aabar entity.

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How did fake Aabar receive millions from 1MDB loan?

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